Phase 2 of the National Housing Plan for Monegasques

©Direction de la Communication - Manuel Vitali

In accordance with the commitment made last December at public meetings on the preliminary budget for 2025, the Government has presented details of Phase 2 of the National Housing Plan for Monegasques to National Council members.

The Plan was announced by H.S.H. the Sovereign Prince in 2019, and by the end of 2024, €1.5 billion had been invested, enabling the construction of 633 new, top-quality state-owned housing units. This equates to an average of 105 apartments delivered each year for Monegasque nationals. These figures illustrate the unprecedented resources allocated to housing policy in the Principality during Phase 1, meeting the vast majority of needs in this area.

Phase 2, which will begin in 2025, will enable the Government to maintain a schedule of regular deliveries until 2029. The programme includes the following developments:

-    Résidence Héméra – Block A, delivery of 50 apartments;

-    Bel Air, delivery of 197 apartments;

-    Larvotto Supérieur, delivery of 35 apartments;

-    La Luciole, delivery of 27 apartments;

-    Hector Otto, delivery of 76–90 apartments.

The Plan continues to follow the planned trajectory, which will ensure that the initial objective of housing nearly three quarters of Monegasque nationals in the state-owned sector is achieved by the end of 2029. With this in mind, the Government plans to draw on scientific studies carried out by Monaco Statistics (IMSEE) to plan a delivery schedule for developments from 2030 that is aligned as closely as possible to the needs of Monegasque households.

The significant construction work already undertaken, coupled with demographic changes, means that amendments will now be made to the Plan every five years to take account of these studies as they are updated. The Government will continue to seek any opportunity, in any part of the Principality, to embark on new state-owned developments in order to anticipate the need for housing for Monegasque nationals.

Finally, in addition to this quantitative approach and with a view to constantly improving the way it responds to the wishes of Monegasque nationals, the Government will continue to refine the system for allocating state-owned apartments. It has presented to the National Council a new methodology which is set to be adopted before the end of 2026. A key goal of this new “housing approach” is to increase the frequency of allocation rounds and to give greater consideration to applicants’ wishes.